Institutional bond trader?
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The fact that you have freedom to choose your hours as an FA is not a double edged sword as long as you have a good work ethic. Bond traders are in the office EARLY (before I wake up!), and are working when the market is open, period. They are not taking days off to see their kids play, they are on the desk. If a big client calls in to ask for paper and you are not there he finds a replacement. Tough world; high stress is just the beginning. And they don't often make more than advisors. Some make more than MOST advisors, some make less than MOST advisors, but there are extremes on both sides of the industry. Once you have been a successful advisor for a few years you can back off the throttle and let your book build intrinsically. You don't need to be in at 8 and leave at 6 or 7, you can take lunches and days off. I know a guy who works one week per month in NY. He moved to Boca (or Naples, I forget) and has his team manage the business while he down there. Once a month he flies up to NY for one week and has his staff line up meetings with every client. He starts first thing Monday morning and works until Thursday evening then goes home (and makes a hell of a living!). You can't do that as a trader...the fact that u can work when the market is closed as an FA seems like a double edged sword though. as a trader ur out of that office by 5 oclock (probably more like 4:15) knowing there’s nothing more u can do till the next morning. as an FA it seems like u kind of have to be “on” around the clock, and work is never truly done.
question… what’s the vacation situation like when ur at a wire? it would seem to me that u should be able to take some vacations pretty easily as long as ur phone is never too far away. is that usually the case, or does it not work like that?
damn shantom, how late do you wake up? the bond trader i know and mentioned before gets to the office no sooner than 8am. and he’s out by 4:30-5.
The fact that you have freedom to choose your hours as an FA is not a double edged sword as long as you have a good work ethic. Bond traders are in the office EARLY (before I wake up!), and are working when the market is open, period. They are not taking days off to see their kids play, they are on the desk. If a big client calls in to ask for paper and you are not there he finds a replacement. Tough world; high stress is just the beginning. And they don't often make more than advisors. Some make more than MOST advisors, some make less than MOST advisors, but there are extremes on both sides of the industry. Once you have been a successful advisor for a few years you can back off the throttle and let your book build intrinsically. You don't need to be in at 8 and leave at 6 or 7, you can take lunches and days off. I know a guy who works one week per month in NY. He moved to Boca (or Naples, I forget) and has his team manage the business while he down there. Once a month he flies up to NY for one week and has his staff line up meetings with every client. He starts first thing Monday morning and works until Thursday evening then goes home (and makes a hell of a living!). You can't do that as a trader... [/quote] Whoever told you about my practice got it wrong, my office isn't in NY.[quote=twoeyeguy]the fact that u can work when the market is closed as an FA seems like a double edged sword though. as a trader ur out of that office by 5 oclock (probably more like 4:15) knowing there’s nothing more u can do till the next morning. as an FA it seems like u kind of have to be “on” around the clock, and work is never truly done.
question… what’s the vacation situation like when ur at a wire? it would seem to me that u should be able to take some vacations pretty easily as long as ur phone is never too far away. is that usually the case, or does it not work like that?
i expected some dumbass to jump up and say that. but from what i’m hearing here about the quality of life of an FA, all this flexibility should easily be translatable into some vacation time a couple times of year, no? without being excessive, of course… otherwise what kind of flexibility are we really talking about? the freedom to chose between 8am-6pm and 9am-7pm?
2I,
I think you're missing the point. When you are an FA, even if you work as an employee, your employer doesn't care if you come in 50 hours a week or 50 hours a year, as long as you can generate profitable income for the firm. If you are never in, your clients may eventually walk, but how often do you talk to each client? You can structure your practice so that you make all your client calls during one week a month (make 10-20 calls a day). You can work from home. You can work from the villa in Tuscany, it doesn't matter. And frankly, other than reviews and advice, your assistants, or partner FA's can answer most questions. Now, while you are BUILDING your business, you are going to work some serious hours getting it going. But that's a function of building any business.two-eye. The freedom is whatever you want it to be. I worked over the holidays like a madman because I wanted to, yet took a month off in July. I’ll take two weeks off in April. I’ll also be gone for six weeks this summer in Europe.
The initial choices may be between 7 a.m. and 7 p.m. (or even 9 p.m.), but after you’ve gotten things going, built a reputation, you can slow down.
Not to mention you can pick up your kids from school early. Go see games. Grab a nooner with the wife that could turn into an all-day thing. Go to a matinee. The gym for a few hours. Go for a run. Wake up and want to go golfing? Go for it.
You won’t be doing that at the bond desk.
Who are you calling a dumbass, the guy who is telling the truth (mlgone) or the guy who was making a joke that had nothing to do with you (me)? In either case, you are clearly not a RR and therefore shouldn't even be posting here, so maybe you should go back to working at Best Buy and not worry about what the adults do for a living.i expected some dumbass to jump up and say that. but from what i’m hearing here about the quality of life of an FA, all this flexibility should easily be translatable into some vacation time a couple times of year, no? without being excessive, of course… otherwise what kind of flexibility are we really talking about? the freedom to chose between 8am-6pm and 9am-7pm?
One caveat - if you want to be a traditional transactional stock or bond broker, you are likely going to have to be in the office more hours making sales calls. But if you are generally fee-based (or fee-only), your time required on the phone and in the office will drop considerably.
I am an RR, not that it’s really any of ur business. the dumbass i was referring to is mlgone, but ur quite the douche as well.
no, not a successful or established one. i am very much so at the beginning of my career, posting on this forum to gain some insight from more experienced reps. i dont want to get dragged into unproductive bullsh*t with a punk who likes to act like a tough guy on an online message board.
Wrong, mouthbreather. It is my heart-felt moral obligation to make sure that stupid people do not pollute the bastien of intellectual debate that is the RR forums. Not that it matters what you think is my business or not...if I feel like telling you to go back to your Best Buy job, I will. Now, on to the real point. You should quit. Seriously. Go to whomever hired you and tell them you aren't cut out for this job for two reasons: 1) The word "vacation" should never enter your mind until...well when doesn't matter because you'll never get there. If you want vacation time, go be a school teacher. It's a noble profession, you'll make more than the national average in salary in most cases, and you only work 9 months a year. That was the point that "dumbass" mlgone was making. 2) If you are too sensitive to take the criticism (though veiled in insults) offered here, you will never make it. This job is about work ethic and tolerance for rejection in the first couple years. Seems you have neither. Bonus reason #3: You lack the basic understanding of the English language to communicate effectively. I mean, "ur"? Really? What are you, a high school cheerleader?I am an RR, not that it’s really any of ur business. the dumbass i was referring to is mlgone, but ur quite the douche as well.
Listen, gimp. I realize the begining is tough and vacation time is not a reality in the early stage of this career. However, if u weren’t a f***in idiot, you’d see I was asking about the quality of life of an established FA, as opposed to that of a trader. I knew that as soon as I brought up the word “vacation” some moron with knee jerk reaction to the word, and a lack of basic reading comprehension, would get all up in arms about it. That moron, predictably, was mlgone. I could have also guessed that there would be another idiot that has nothing better to do than be mlgone’s assistant shmuck on a Thursday morning.
Golly, you sure showed me! You are certainly correct, I completely misread the statment below to mean you had a question about vacation time! You obviously meant something else. Thanks for clarifying with poor grammar and nondescript insults, I would never know I was an idiot otherwise: "question... what's the vacation situation like when ur at a wire? it would seem to me that u should be able to take some vacations pretty easily as long as ur phone is never too far away. is that usually the case, or does it not work like that? " Now I'm off to limp away and sulk in the irony that you comment on my "lack or reading comprehension" while misspelling "beginning" and "you" (because adding the additional keystrokes necessary to type the 'y' and 'o' can be a burden).Listen, gimp. I realize the begining is tough and vacation time is not a reality in the early stage of this career. However, if u weren’t a f***in idiot, you’d see I was asking about the quality of life of an established FA, as opposed to that of a trader. I knew that as soon as I brought up the word “vacation” some moron with knee jerk reaction to the word, and a lack of basic reading comprehension, would get all up in arms about it. That moron, predictably, was mlgone. I could have also guessed that there would be another idiot that has nothing better to do than be mlgone’s assistant shmuck on a Thursday morning.
That's right, avoid the real point I made...you know, the one where you denied saying something that you had clearly said in an earlier post. Don't worry, nobody will notice you are changing the subject.reduced to correcting my grammar and spelling… that was quick
i was talking about vacation time as a function of flexibility in the career of an established FA, and in contrast to that of a trader. it was clear when i first said, clearer when i reiterated it shortly thereafter, and i’m not sure why i’m repeating myself again when all you had to do was scroll up to see it. your input is not welcomed anyway so just don’t concern yourself with it. when i need someone to look over my spelling ill get back in touch with you, but this conversation is over. move on, moron.
Clearly my input is welcome. I am pretty sure you sat at your computer and reread your entire post three times to make sure you didn't misspell anything. You're welcome, you may be able to go get your GED now that you've demonstrated that you know the basics of middle school English. And you don't need to repeat yourself. You are a liar anyway, nobody really cares what you are saying.i was talking about vacation time as a function of flexibility in the career of an established FA, and in contrast to that of a trader. it was clear when i first said, clearer when i reiterated it shortly thereafter, and i’m not sure why i’m repeating myself again when all you had to do was scroll up to see it. your input is not welcomed anyway so just don’t concern yourself with it. when i need someone to look over my spelling ill get back in touch with you, but this conversation is over. move on, moron.
not the first thing i ask, just one of the things. i dont give a f*** that u get off by acting like youre such a hard worker that vacation and personal time arent an issue for u. im a well rounded person and id like to keep it that way by choosing the right career path. the fact that u act too good for vacation time is laughable - youre on here posting and making dumb comments all the f***ing time when you could be working. and for the record, im not a successful FA because ive only been registered for 2 months. now do me a favor, you and your butt buddy go find something else to do during business hours and don’t respond to my posts any more.
anyone else, if you have any input with regard to the life style and flexibility afforded FA’s 2-10 years into their career, and whether that translates into ample vacation time or not, please put in your .02. Thanks
Who cares what will be better when you’re unlikely to be either. No offense but the likelihood of failing as an FA during the first two years are extremely high. You should be focusing on picking up the phone and seeing how many qualified people you can get to say ‘yes’ on the other end. If you ‘know a guy’ why aren’t you asking the guy that does it how to get into it instead of FA’s? You also started a thread about hedge fund managers and how to become one??? You’re clearly in the wrong career if you’re worrying about all the other investment industries out there. And if you think being an inst. bond trader is as easy as finding under-priced bonds then I hope you don’t think being an advisor is just picking a couple stocks in your E-trade account. Focus on not having your BOM call you into their office to explain your options of resigning or being fired.
“That’s it, I’m done!!!” -Jim Young, Boiler Room